Guaranteed fixed fees for Leasehold Conveyancing in Honiton

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Leasehold conveyancing in Honiton is more complex than freehold. Your home move will be smoother where you choose a lawyer with a wealth of experience of leasehold conveyancing in Honiton and across next step up in loc. The lawyers we recommend have been approved by your lender so use our search tool to check.

Recently asked questions relating to Honiton leasehold conveyancing

Having had my offer accepted I require leasehold conveyancing in Honiton. Before diving in I want to be sure as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and almost all are in Honiton - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I’m about to sell my 2 bed flat in Honiton.Conveyancing lawyers have not yet been instructed but I have just received a half-yearly maintenance charge invoice – what should I do?

It best that you pay the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

What are your top tips when it comes to appointing a Honiton conveyancing practice to deal with our lease extension?

If you are instructing a property lawyer for lease extension works (regardless if they are a Honiton conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Honiton conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. Some following of questions could be of use:

  • How experienced is the firm with lease extension legislation?
  • Can they put you in touch with client in Honiton who can give a testimonial?

    • Do you have any top tips for leasehold conveyancing in Honiton with the aim of expediting the sale process?

    • Much of the delay in leasehold conveyancing in Honiton can be bypassed if you get in touch lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold information needed by the purchasers’ solicitors.
    • Many freeholders or managing agents in Honiton charge for supplying management packs for a leasehold homes. You or your lawyers should enquire as to the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Honiton.
  • In the event that you altered the property did you need the Landlord’s permission? In particular have you installed wooden flooring? Most leases in Honiton state that internal structural alterations or laying down wooden flooring calls for a licence issued by the Landlord approving such changes. If you fail to have the approvals in place you should not contact the landlord without contacting your lawyer in advance.
  • Some Honiton leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
  • If you are supposed to have a share in the freehold, you should ensure that you hold the original share certificate. Organising a duplicate share certificate can be a lengthy formality and slows down many a Honiton home move. Where a duplicate share is necessary, do contact the company director and secretary or managing agents (where relevant) for this at the earliest opportunity.

    • When it comes to leasehold conveyancing in Honiton what are the most common lease problems?

    There is nothing unique about leasehold conveyancing in Honiton. All leases are unique and drafting errors can sometimes mean that certain sections are not included. The following missing provisions could result in a defective lease:

    • A provision to repair to or maintain elements of the building
    • Insurance obligations
    • Clauses dealing with recovering service charges for expenditure on the building or common parts.
    • Service charge per centages that don't add up correctly leaving a shortfall

    A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. National Westminster Bank, Chelsea Building Society, and TSB all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the purchaser to withdraw.

    I am the registered owner of a 1 bedroom flat in Honiton, conveyancing having been completed 10 years ago. How much will my lease extension cost? Equivalent flats in Honiton with an extended lease are worth £248,000. The ground rent is £50 levied per year. The lease runs out on 21st October 2101

    With 76 years remaining on your lease the likely cost is going to range between £10,500 and £12,000 as well as legals.

    The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.

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    Lease Extensions in Honiton